Weekly review.

The week starting Monday 5 August began with fear, as the market started to worry about the possibility of a 'crash landing' due to recent soft data coming out of the US, compounded by a disappointing NFP number. There was talk of the FED needing to do an emergency mid meeting rate cut. And for the first time in a long time, It looked like 'risk off' trades were going to be a possibility.

But thankfully, the ship steadied, starting with positive service ISM data. And by the time 'economically positive' US jobless claims data was released on Thursday, I felt 'risk on' trades were once again viable. And I'll start the new week with 'risk on' trades on my radar.

I think it's worth noting we currently appear to be in an environment where 'good news is good news' and vice versa. And it will only take another piece of soft data for the 'end of the world hysteria' to return. And I'll be keeping a keen eye on the VIX in particular.

On a personal note, it was another week of patience, with only one trade. Which, as mentioned, was a 'risk on' trade once I felt the US jobless data would continue the recovery.

Results for week:

Trade 1: AUD CHF +1.5

TOTAL = +1.5%

*For the record:

Undocumented trade from the week before my trading break:

Trade 1: USD CAD -1

Total -1%

Total since start of blog= +27.6% (risking 1% per trade)